Statistical Research On The Corporate Governance Effect Of Bank Credit

In our country, a large amount of money comes from the issue of stock and bank loans, the creditors in the debt structure were in a different position,the degree of participation in the company’s governance is also different. In recent years, with the transformation of the financing structure, the proportion of bank debt is rising, the corporate governance effect of bank debt has been highly valued by the academic community. whether bank participating in corporate governance can exert fully the supervisory role, not only affects the daily business performance of enterprises, but also related to the future cooperation between the bank and the prospects. With the deepening of the market degree of commercial banks in recent years, whether the corporate governance effect of bank debt can fully play a role is the main content of this paper needs to be verified and discussed.In this paper according to the creditor banks corporate governance mechanism to construct the relevant to the company’s financial performance model, agent cost model and free cash flow model, in order to verify the creditor’s rights of the bank effect to carry out the empirical analysis, in the process of empirical analysis, the establishment of index system, for data collection and verification.The data intercept in domestic industrial and manufacturing of A-share companies 2003~2014 annual data. bank loans rate as the representative of the bank creditor’s rights are the explanatory variable, free cash flow FCF, agency COST and comprehensive performance index Z are as explanatory variables, after model assumptions, choose the appropriate model type through likelihood and hausman test, first analysis the whole effect of different debt structure on corporate governance, then divided into annual regression test the influence of bank creditor trends over time.Derived by means of the bank debt and corporate financial index regression model, the banks credit effect of corporate governance on the whole is not entirely obvious, only partially significant: 1, total bank lending rate on corporate financial indicators were not significantly correlated, but on the agency costs and free cash flow has certain negative correlation and positive relationship; 2, short-term bank loan rates on agency cost of governance is not significant, but on financial indicators and free cash flow significantly related; 3, long-term bank loan rate of the comprehensive financial performance and free cash flow are not significantly correlated, only have negative correlation to agency cost. 4, found in the results of the study, the effect of short-term loans is more obvious than long-term loans.The above conclusions show that there is a lack of effect of creditor banks on corporate governance, the governance disorder causes of analysis, we find that the banks involved in the management system is not perfect, corporate bankruptcy law for planning the bank’s function is not perfect.In order to enhance the bank on corporate governance effect, and to make the relationship between banks and enterprises to achieve a mutual win state, the paper puts forward the relevant policy recommendations:1,reform the broken mechanism, to give bank enforcement power and the supervision power; 2, balance the relationship between banks and enterprises to speed up the process of market-oriented reform; 3,to give the bank board of directors rights;4,at the same time the government should widen the financing channels, create favorable conditions for fact cooperation between bank and enterprise.